Comcast (CMCSK) (CMCSA) is expected to announce on Wednesday that it will spin off its NBCUniversal cable TV networks, separating its entertainment and news channels including MSNBC, CNBC, USA, Oxygen, E!, Syfy and Golf Channel, which generated about $7B in revenue in the 12 months ended September 30, The Wall Street Journal’s Amol Sharma reports. According to people familiar with the situation, Bravo will remain at Comcast, along with the Peacock streaming service and the NBC broadcast network, as Comcast bets that NBCUniversal’s remaining assets, including in broadcast TV, sports, movies and theme parks, will be better positioned for growth. The transaction is expected to be structured as a tax-free spinoff to Comcast shareholders and Comcast Chairman and CEO Brian Roberts is expected to hold a one-third stake in the new cable venture.
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